Market Overview Calamvale Winter Edition 2019

CALAMVALE WINTER EDITION 2019

Local market overview page 4

Federal election aftermath: Positive prospects ahead page 6

Sales in Calamvale page 8

The importance of a building & pest report page 10

Tax Time: Top Tips page 12

Top 5 things to do at the Ekka page 13

Property Report brought to you by your Calamvale area specialist

JESS CHIA 谢丽燕

0430 458 822 jesschia@eplace.com.au

Hello

friends & family It’s been a chilly winter and the team here at Place Sunnybank are all looking forward to the warmer weather as we welcome Spring in September! Is it just us, or does this year feel like it’s flown by quickly? We are excited for what is to come for the last half on 2019, and here’s why.

After a confusing and slow start to the year, anyone who follows real estate knows that the coming months and years are showing positive prospects.

With unchanged negative gearing and capital gains tax laws, the recent interest rate drop as well as many other positive forces, we have seen an immediate increase in buyer activity (more on this in page 6). We are excited and have confidence on a positive and brighter outlook for the property market.

As we have also just wrapped up the 18/19 financial year, we’d like to also take this opportunity to thank all our clients, buyers and landlords for choosing Place Sunnybank to represent you in real estate and look forward to work with each and everyone one of you again in the coming future.

We hope our market reports continue to keep you well informed on what is happening in your local suburb.

Do also feel free to call for a chat or suggest anything that you’d like to know more about. Thank you again for your ongoing support and feedback.

Enjoy this issue!

Your local specialist | Place Sunnybank

Algester | Calamvale | Carindale | Drewvale Eight Mile Plains | Kuraby | Macgregor | Mt Gravatt East Parkinson | Robertson | Rochedale | Rochedale South 2

Runcorn | Stretton | Sunnybank | Sunnybank Hills | Wishart

PLACE SUNNYBANK TEAM

Contents Page 4

Market overview

Page 5

Suburb statistics

Page 6

Federal election aftermath: Positive prospects for the real estate market

Page 8

Houses sold

Page 10

The importance of a Building & Pest Report

Page 12

Community news

Page 14

Our proud business partners

Page 16

Your suburb specialist

2017 FINALIST REIQ Large Residential 2015 REIQ LARGE RESIDENTIAL AGENCY OF THE YEAR Disclaimer: Every effort has been made by Place Sunnybank to ensure that all information in this document is correct at time of printing.

3

April - June 2019

Calamvale’s Market Overview

The property market across Australia started especially slow this quarter predominately due to the impact and uncertainty from the federal election held on 18th May 2019. This is and has always been common each time an election rolls around. With many positive forces that have since come to fruition, we are expecting to a stronger market during the last 2 quarters of this year!

Calamvale’s Summary In Calamvale, we had minimal newly listed properties for sale this quarter, which in turn aided properties that were on the market to sell quicker. The average days on market (days from listed to sold) reduced from 76 down to 65 days.

We continued to see a skew towards smaller properties (ie. lowset 3-4 bedrooms on smaller blocks) with very few larger double-storey family homes available. This has resulted in a 5% drop in median price, however is a mainly reflection of the style of properties as opposed to a reflection on declining prices.

Jess Chia 4

Your Calamvale Specialist

Market Forecast Now that the election is over and with the banks’ double interest rate drop in a short period of time, we believe this will give buyers even more confidence in their upcoming home purchases.

28 Houses sold in

CALAMVALE

2019 QUARTER 2 | APRIL - JUNE 2019

Insider news!

Buyers are now seeing an increase of up to 10% in borrowing power!

In summary we think that we are now seeing the light at the end of the dark tunnel and have all the signs of moving towards recovery. However, this period of adjustment does mean buyers may still be cautious in their spending. Hence it is still critical that sellers approach their sale strategically and choose an agent who can be tactical to achieve the best outcome.

HIGHEST SALE PRICE

$870,000 VS. 2019 Q1 | $920,000 MEDIAN PRICE

$617,500

VS. 2019 Q1 | $650,000

If you are thinking about selling soon or in the distant future and want a discussion with a local agent who knows Calamvale well, I’d love to share more insights about what’s happening in the local market and how to best plan your move. Call me today I would love to help.

AVERAGE DAYS ON MARKET

Contact Jess Chia 0430 458 822

11.6%

jesschia@eplace.com.au

65 days

VS. 2019 Q1 | 76 days CHANGE IN MEDIAN PRICE

-5%

VS. 2019 Q1 | -7.4%

5 YEAR GROWTH

$460 p/wk

AVERAGE RENT FOR HOUSES

5

6

In the last 2 years, billions of dollars have been wiped from the Australian property market, but amongst the rubble Brisbane has held steady and defied the odds and influences of the downturn in Sydney and Melbourne. Year to date the Greater Brisbane median price has only fallen by -2.6%, while nationally it has fallen by -6.9% (-8.0% for combined capitals).

Recent data suggests that the downturn has been slowing since January, and that most of the improvements in the last 6 months have largely been organic. However, major events in the last few months have also helped inject some life into the property market, tipping the scale towards recovery.

POSITIVE FORCES FOR THE MARKET Federal election result and mortgage deposit scheme for first home buyers Federal government will guarantee 15% of the 20% mortgage deposit for 10,000 eligible first homebuyers.

Federal government tax cuts New tax packages will benefit Australians across the board and potentially help stimulate the economy and property market Interest rate reductions by Reserve Bank Interest rate at record low of 1.00% to help make home ownership more attainable and affordable.

SO, WHAT DOES THIS MEAN FOR YOU? With consumer confidence returning as a sign of stability and growth in the property market, current homeowners should start thinking about their next step. Whether it’s to upsize, downsize, upgrade, or relocate, knowing when and where you see yourself in the foreseeable future, and to consider how you want to achieve that next phase

Government infrastructure investment Federal, State, and Local government plans to invest heavily into construction jobs to upgrade infrastructure, and to stimulate the economy and job market to keep unemployment under 5% APRA relaxation of lending restrictions Borrowers will no longer be required to pass the 7% interest rate stress test and will only be assessed on their ability to repay their loans at 2.5% above their current rate.

Improvements in Auction clearance rates nationally (Capital Cities) Weighted average clearance rates have been above 60% for the 4th consecutive week. Currently at 68.9% up from 52.6% this time last year.

in your life becomes an important and complex decision.

As your Area Specialist, my job is to help you stay in tune with the market, and help you make the right decision at the right time. Call me anytime if you want the latest information regarding your market and your home.

7

QUARTER 2 2019

CALAMVALE SPEC

Address

Bed,Bath,Car

Land m2

DOM

SOLD

Sale Price

30 Williams Way

4, 1, 2

655

154

19-Jun-19

$419,215

204 Algester Rd

4, 2, 2

804

57

3-May-19

$482,000

14 Van Wirdum Pl

3, 2, 2

468

181

24-Apr-19

$492,000

1 Perkins St

3, 2, 4

554

59

11-Apr-19

$500,000

4 Bowerbird Pl

4, 3, 2

514

86

8-Apr-19

$500,000

9 Pepper Tree St

3, 2, 2

473

20

1-Apr-19

$512,000

1 Gumnut Ct

3, 2, 4

546

28

2-Apr-19

$515,000

5 Freeman Pl

3, 2, 2

452

14

11-Apr-19

$515,000

2 Klim St

4, 2, 2

495

104

13-Jun-19

$527,000

4 Silvergum Ct

4, 2, 2

519

49

8-May-19

$540,000

24 Sunflower Cres

4, 2, 2

503

89

10-May-19

$549,999

26 Murphy St

3, 2, 2

562

20

1-Apr-19

$555,000

16 Tuberose Pl

4, 2, 2

465

24

29-Jun-19

$580,000

41 Lambert Drive

4, 2, 2

605

56

13-May-19

$615,000

SOLD

2 GULUBIA PLACE, CALAMVALE

$820,000

TOP TWO STOREY SALE

5

8 DOM | Days on Market

3

2

LAND SIZE

700m2

DOM

65

SALE DATE

11 MAY 19

QUARTER 2 2019

CALAMVALE SPEC

Address

Bed,Bath,Car

Land m2

DOM

SOLD

Sale Price

2 Clembury Pl

4, 2, 2

610

120

11-Jun-19

$620,000

7 Ayesha Pl

5, 2, 2

640

89

11-May-19

$625,000

91 Sunflower Cres

5, 2, 2

763

52

31-May-19

$662,000

3 Corypha Cres

4, 2, 8

700

65

17-Apr-19

$665,000

42 Semper Pl

4, 2, 2

800

24

13-Apr-19

$676,000

11 Hickory Pl

6, 4, 2

738

131

10-Apr-19

$690,000

13 Grevillea Cres

4, 2, 2

883

24

4-May-19

$700,000

11 Orania Cres

5, 2, 3

712

16

1-Apr-19

$725,000

1 Maywood Cres

4,3,3

800

243

3-Jun-19

$750,000

10 Tequila Ct

5, 2, 4

981

60

12-Apr-19

$750,000

12 Poinsettia Cres

4, 3, 4

800

49

1-Apr-19

$752,000

7 Tristania Cl

5, 3, 2

820

101

27-Jun-19

$791,000

2 Gulubia Pl

5, 3, 2

700

65

11-May-19

$820,000

12 Alfred Cct

4, 2, 4

846

25

13-Apr-19

$870,000

12 ALFRED CIRCUIT, CALAMVALE

SOLD

$870,000

TOP SALE Q2 2019

4

2

2

Information correct at time of print as sourced from RP Data and Pricefinder.

LAND SIZE

846m2

DOM

26

SALE DATE

13 APR 19

9

BUILDING & PEST INSPECTION REPORTS are beneficial for both buyers and sellers however most people think that only buyers organize these inspections after buying the property.

There is a big advantage for sellers getting their own independent building & pest inspection report prior to launching on the market.

One of the main reasons for getting the report done prior to any potential buyers inspecting your property is that if there are any major structural or pest issues as the owner you will be the first to find out and will be able to rectify this ahead of time.

Should these problems be found later down the track it could highly likely damage the negotiation process of getting the best price possible for your property.

If there are no issues found, both buyers and sellers have the peace of mind that they can move forward making the transaction happen smoothly without any worries and stress.

10

THE IMPORTANCE OF A BUILDING & PEST REPORT WHEN PREPARING YOUR HOME FOR SALE FOREWARNED IS FOREARMED Even though your property may appear to be structurally sound and there is no visible indication that termites, subsidence or mould is present, there could be hidden problems lurking in the foundations, roof, plumbing or walls that only a professional can identify.

Many people are worried that building and pest inspectors may uncover some terrible truths about their property. For many, this concern stops them from having an inspection. But is that logical? If something is wrong with your property wouldn’t it be better to know before you put the house on the market?

Being forewarned is forearmed and puts the power in your hands. Being aware of any issues with your property allows you to take control and have them fixed and doesn’t erode your position when you put your house on the market.

A BUILDING AND PEST INSPECTION REPORT EMPOWERS YOU While many buyers will still insist on having their own pre-purchase building and pest inspections conducted, showing them the reports you’ve had prepared shows them you have nothing to hide about the condition of your property and gives them less ammunition to negotiate.

At the end of the day, building and pest inspections aren’t deal breakers. And it’s what we find out right now before the investment of marketing and Inspections and agent’s performance fees that will protect your sale price and final profit.

The report will cost less than $500 yet could be the vital knowledge in a negotiation that saves your sale and protects your profits.

11

TAX TIME TOP TIPS

WAIT FOR YOUR INCOME STATEMENT TO BE “TAX READY” New wage and super reporting by employers means that the information you might see on MyGov is not actually finalised and ready for inputting into your tax return. Employers have until 31 July until they need to file your wage information with the ATO. CHECK ALL YOUR FINANCIAL INSTITUTIONS FOR BANK INTEREST A lot of information is provided to the ATO through data collection, but may not show until mid-August. If you think you may have earned bank interest, check the interest summary information shown on your online banking and compare it with what has fed through to MyGov. YOUR PRIVATE HEALTH INSURANCE STATEMENT MAY NOT BE POSTED Private Health insurers are increasingly going paperless. You may have received your private health insurance tax statement via email so check your spam folder if you haven’t seen it.

THE ATO IS WATCHING INDIVIDUAL TAXPAYERS AND THEIR WORKRELATED EXPENSE DEDUCTIONS Increased audit resources are being directed at individual taxpayers. The ATO are using benchmarking algorithms to identify

taxpayers who have higher than average claims. The important thing to remember here is you must have spent the money, you must not have been reimbursed, it must be directly related to earning your income and you must be able to show records or receipts.

RENTAL PROPERTY DEDUCTIONS HAVE CHANGED On 1 July 2017 changes to deductions for travel expenses and depreciating assets came into effect. For most people with a rental property, claiming deductions for travel to inspect, maintain or collect rent for the property are no longer deductible.

Additionally, depreciation on second-hand depreciating assets is no longer deductible.

If you purchase an older property, you may claim depreciation on new assets but older items will now be excluded. This rule has been grandfathered for investors who already own an investment property. If you’re unsure on what you can claim on depreciation, the best course of action is to engage a quantity surveyor.

Contact Cassandra Ferris, to maximise your tax return and for all your accounting and bookkeeping needs.

CASSANDRA FERRIS

12

m: 0407 167 091 w: www.ferrisfinancial.com.au e: cassandra@ferrisfinancial.com.au

COMMUNITY NEWS

PREPARE TO BE AMAZED

THE EKKA RETURNS! The Royal Queensland Show (Ekka) is Queensland’s largest and most loved annual event, attracting on average 400,000 people, taking place from the 9th until the 15th of August.

vegetables, 10,000 animals, world-class live entertainment, award-winning food and wine, carnival rides and showbags, family shopping, educational activities and much more.

Run by the RNA for 10 days in August and staged at its original birthplace, the Brisbane Showgrounds, the Ekka brings the country and city together for a true celebration of agriculture.

The iconic show has been running since 1876 and is full of traditions, a unique atmosphere and childhood memories which have been passed down through generations of families.

The Ekka showcases the best of Queensland, attracting more than 21,000 competition entries from woodchop to giant

Visit the official website: www.ekka.com.au for more information.

TOP 5 THINGS TO DO AT THE

STRAWBERRY SUNDAE Another tradition is to get the delicious Strawberry Sundae. Take a photo and upload it on your Instagram #ekkastrawberrysundae.

Visit them

at:

CARNIVAL RIDES

EKKA SHOW BAGS

From something easy like the Bella Vista Ferris Wheel or the Crazy Spinning Coaster the EKKA has got you covered!

A trip to the EKKA wouldn’t be complete without getting those Show Bags! Kids love it and the parents secretly love it too!

SEEING THE ANIMALS

WATCHING FIREWORKS

One of my personal favourites – from watching the canine shows to playing with farm animals this one is popular for the whole family!

12/258 Warrigal Road, Runcorn

After getting through everything, it’s time to sit down, enjoy and watch the evening fireworks with the family to wrap things up.

QLD 4113

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We do the legwork We may negotiate a better outcome We keep the competition alive We help at a time & place that suits you

++ Quality homes ++ Real choice inclusions ++ Guaranteed start & completion dates

ANSON XU

++ One true price promise

0431 223 000 | anson@madisonhomesqld.com.au

++ Deal directly with the builder

www.madisonhomesqld.com.au

SHOWROOM Unit 3/115 Russell Street, Cleveland QLD

++ Clear and transparent building process ++ Specialising on narrow blocks (10m wide frontage)

What Landlords should be looking for in a Property Management team?

• Updated market knowledge, including industry and legal compliance knowledge, appropriate trust accounting and property investment knowledge • Strength in marketing and leasing properties at the best possible price • Prompt communication response • Investing in advanced technology in providing the ultimate convenience to landlords and tenants • A thorough process for tenant selection and rent management • Solution based advice • Completion of inspections, lease renewals and maintenance on time • Low rent arrears and tenancy dispute rate • Regular training to keep the team updated with the most recent legislation, regarding tenancies to minimise risk

Our excellent achievements based on year to date statistics: Rent arrears rate over 14 days ZERO Loss of management due to poor service ZERO Current dispute lodged with QCAT ZERO

What our clients say...

“The Place Sunnybank team are highly professional and have been amazing to work with in the handover of my property. My property has been managed by Place for the past 2 years and I would highly recommend their services to other landlords. They are efficient, friendly, provide great support and communicate promptly regarding any issues which is good for the tenant as well as the landlord.”

Happy Landlord, Jiaqi

Speak to our friendly team to enquire about our property management services.

07 3193 8788 (Chinese & English) sunnybankrentals@eplace.com.au

15

Jess Chia WHAT MY CLIENT SAY

PROFESSIONAL AND KNOWLEDGEABLE

“ We found Jess to be extremely professional and knowledgeable of the calamvale market. We heeded her advice and in doing so achieved our goal! ” Calamvale Seller, Pat and Mark L.

OVER

$100m Total Sales in 12 Months

OVER

177

Transactions in 12 Months

CALL, TEXT OR EMAIL ANYTIME

Jess Chia 谢丽燕

0430 458 822 | jesschia@eplace.com.au Your Place Calamvale Specialist

OVER

13yrs

of real estate expertise in your area

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